UPPSALA, Sweden, Aug. 28, 2002 (PRIMEZONE) -- Pricer:
-- Order from Metro for at least SEK 14M
-- Partner agreement with TOSHIBA TEC EUROPE in Belgium and
orders for ESL systems to three stores in Belgium
-- Increased orders of SEK 40.8M (14.5) received
-- Increased net sales of SEK 38.2M (17.8)
-- Improved operating result of SEK -24.8M (-39.4)
-- Previously blocked bank deposits of approximately SEK 24M released
-- Final settlement of the liability to Telxon
-- Liquid funds of SEK 98.9M (125.5)
Subsequent events:
-- Orders for ESL systems to an additional three stores from Pricer's
new partner, TOSHIBA TEC EUROPE
-- Pricer moves headquarters to Sollentuna (Stockholm)
Operations
Orders received amounted to SEK 18.1M (2.7) for the quarter, a substantial increase compared with the same period in the previous year. Orders received in the first six months of 2002 amounted to SEK 40.8M (14.5). During the quarter, an order for at least SEK 14.0M was received from the German retail chain, Metro, for replacement batteries and accessories for existing systems. Orders for three ESL systems (Electronic Shelf Label) were received from TOSHIBA TEC EUROPE in Belgium. The systems relate to three ESL systems in stores belonging to the retail chains SPAR and Delhaize, of which one already have been installed.
At the period end, the backlog amounted to SEK 292M (28). The majority of Pricer's orders are made in USD and currency fluctuations affect the value of the backlog in SEK.
During the period, Pricer signed an agreement with TOSHIBA TEC EUROPE in Belgium. The agreement means that TOSHIBA TEC will sell, install, integrate and provide support for Pricer's ESL systems to its customers in Belgium. TOSHIBA TEC EUROPE is a leading supplier of information systems to the retail sector in Europe.
During the first six months, an additional 20 stores have installed Pricer's ESL systems through the company's Japanese partner, ISHIDA. Pricer's ESL systems have now been installed in a number of Japanese retail chains.
At the Swedish market an additional 14 stores have installed Pricer's ESL system during the first six months
The majority of the action programme that was agreed in November 2001 was implemented during the first quarter. The effects of the cost reduction are expected to arise gradually during the second half of 2002.
Market
The interest in ESL systems during the last year has resulted in an increased rate of installations in Central Europe as well as in Northern America and Asia. One of the largest retail fairs that focuses especially on system solutions for the retail industry, Retail Solutions, was held during the period in Chicago, USA. The fair further indicates cautious signs of a positive trend.
For further information, please contact: Jan Forssjo, President of Pricer AB: +46 18-18 81 00
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